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makeasnek t1_j9irsar wrote

This is an excellent explanation. Also worth adding that Ethereum moved to "proof of stake" a while ago, so nobody is buying GPUs to mine Eth at this point, whatever effect they have (if any) on current GPU prices has a time limit on it. There are other cryptos which use GPU mining, but they are not particularly popular and couldn't absorb much of the miner exodus when Ethereum switched to PoS.

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